Indemnisation des préjudices et fréquence des procès en présence d'une asymétrie d'information sur l'aversion au risque des parties
AbstractThis paper studies in a model à la Bebchuk how the existence of an asymmetric information on the risk aversion of parties engaged in a trial affects the way they litigate. We first consider the situation where the plaintiff is the informed party, and solve for the equilibrium with and without pre-trial negotiations. Then, we analyze the comparative static of the model and the effects of alternative fee-shfting rules. Finally, we discuss several extensions: the case where the defendant is the informed party, the influence of the representation of litigants? preferences, and of the existence of the optimistic bias (or self-serving bias). JEL Classification: D81, K42.
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Bibliographic InfoArticle provided by De Boeck Université in its journal Recherches économiques de Louvain.
Volume (Year): 74 (2008)
Issue (Month): 2 ()
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Web page: http://www.cairn.info/revue-recherches-economiques-de-louvain.htm
litigations; asymmetric information; bias in risk perception;
Other versions of this item:
- Langlais, Eric, 2005.
"Indemnisation des préjudices et fréquence des procès en présence d'une asymétrie d'informaion sur l'aversion au risque des parties
[Compensation of damages and frequency of trials with asymmet," MPRA Paper 1150, University Library of Munich, Germany, revised 06 Nov 2006.
- Eric LANGLAIS, 2008. "Indemnisation des préjudices et fréquence des procès en présence d’une asymétrie d’information sur l’aversion au risque des parties," Discussion Papers (REL - Recherches Economiques de Louvain) 2008024, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Game Theory and Information
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